eBay to acquire Magento

Magento has reached an agreement to be acquired by eBay Inc. As a centerpiece of this strategy, they are building a global, open commerce platform that leverages the worldwide developer community. And Magento will be at the core of this new, open commerce platform, called "X.Commerce."

Back in 2010, eBay became the first outside investor in Magento's platform and since then, the relationship has grown.